Painted Pony Pete Ltd PDPYF

M and A activity.

[Ridgeback]

I don't hold many shares of Pony however I will vote no for this opportune deal that steals the company. Looks like there will be more mergers at a time where pricing could increase?

Obsidian Energy has gone public with a non-binding offer to buy Bonterra Energy in an all-stock deal, framing it as the best way forward for a couple of companies that are struggling to maintain investors’ confidence and could be staring at the prospect of taking on more debt. In a letter to Bonterra’s chairman and CEO, interim Obsidian CEO Stephen Loukas pulls back the curtain on talks that he says have been going on since January 2019. He also indicated Obsidian is prepared to “pursue all options” if Bonterra doesn’t engage swiftly. We’re waiting for Bonterra’s response.

And that is not the only energy M&A file on our radar today: Whitecap Resources announced it’s buying NAL Resources in a $155-million all-stock deal that will see a subsidiary of Manulife Financial emerge as a major shareholder in the combined entity.

[Oldnagger]

Readers can go to Boe Report for details.Note the huge upkick (300% or more) in Bonterra share  values as proposed by Obsidian then contrast that to the 30% that Painted Pony stated in their press release concerning the CNRL rake-over. make sure to bring a box of tissue papers first

[roscoe74]

260k traded today. All, except for ~20k at $.69. Since these shares can not be voted, they must be seeking some sort of profit.